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(xiii) In our opinion and according to the information and explanations given to us, the Company is in compliance with Section 177 and 188 of the Companies Act,
2013, where applicable, for all transactions with the related parties and the details of related party transactions have been disclosed in the financial statements
etc. as required by the applicable accounting standards.
(xiv) During the year the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures and hence
reporting under clause (xiv) of the Order is not applicable to the Company.
(xv)
In our opinion and according to the information and explanations given to us, during the year the Company has not entered into any non-cash transactions
with its directors or directors of its holding, subsidiary or associate company or persons connected with them and hence provisions of Section 192 of the
Companies Act, 2013 are not applicable.
(xvi) The Company is not required to be registered under Section 45-I of the Reserve Bank of India Act, 1934.
For
DELOITTE HASKINS & SELLS LLP
Chartered Accountants
(Firm Registration No.117366W / W-100018)
B.P. SHROFF
Partner
Mumbai, May 23, 2017
(Membership No. 34382)